Sale of petrol in Pakistan reaches all-time high

Sale of petrol in Pakistan reached an all-time high level of 305,000 tonnes in July 2012, up by 22 per cent year-on-year and 16 per cent month-on-month basis. Curtailment of gas supply to the transport sector boosted petrol sales, apart from rising import of power generators due to load shedding and thriving import of used cars. Petrol sales in July 2012 touched record peak despite decline in two/three wheelers sales and locally produced cars. Sale of some selected two/three wheeler members of Pakistan Automotive Manufacturers Association (PAMA) plunged to 67,334 units in July 2012 as compared to 74,748 units in July 2011, while overall car sales dropped to 8,996 units from 14,856 units. On the contrary, sale of locally produced cars in July-June 2011-2012 crossed 150,000 units from 127,944 units in 2010-2011, while of import of used cars stood at 55,000 units in 2011-2012. Import of power generating machines surged to $100 million in July 2012 as compared to $65 million in July 2011, while in June 2012 imports stood at $88 million. Import of cars (95 per cent used cars) rose to $35 million in July 2012 as compared to $23 million in July 2011. Local production of petrol in July-June 2011-2012 stood at 1,687,117 tonnes as compared to 1,695,852 tonnes in the same period of last fiscal year. Import of petrol in 2011-2012 stood at 1,558,186 tonnes as compared to 1,060,234 tonnes in 2010-2011. From July 2008 to July 2012, Pakistan imported 3,729,393 tonnes of petrol. The country also made a record import of 178,199 tonnes of petrol in June 2012 which could be one of the reasons of low import of 113, 392 tonnes in July 2012. Petrol sales would get a boost as long as CNG load-shedding continues, a petroleum dealer said, adding that much would also depend on the price gap between petrol and CNG and also saving aspect between the two fuels. Overall performance of oil marketing companies (OMCs) remained impressive at the start of new fiscal year as 2.1 million tonnes of petroleum products were sold, up 11 per cent from same month last year and monthly sales in country’s history despite tight liquidity environment and lingering circular debt issue.